Dong Continues Modest Depreciation

June 2005
Asia Monitor: South East Asia Monitor Volume 1;Jun2005, Vol. 16 Issue 6, p4
Country Report
Country Report
The article reports that Vietnamese dong continued its measured depreciation against the U.S. dollar during 2004. The movement in the exchange rate over the past year has been in line with government policy for the dong for the last few years, which has been to allow the currency to trade each day within a quarter-percentage-point margin of its last close against the dollar. Since the dong is so closely linked to the U.S. currency, which itself has been depreciating against both the Euro and the Japanese Yen since 2002, Vietnamese exports are now much more competitive in both the Eurozone and Japan.


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